A Bond Has a Macaulay Duration of 5

question 90

Multiple Choice

A bond has a Macaulay duration of 5.5, a yield to maturity of 6.2%, a coupon rate of 6.5%, and semiannual interest payments. What is the bond's modified duration?

• A)4.29 years
• B)4.39 years
• C)4.92 years
• D)5.33 years
• E)5.46 years

---

Definitions:

Organizational Culture

The shared values, beliefs, and practices that characterize an organization and influence its members' behavior.

Management Practices

The array of techniques, strategies, and approaches employed by managers to effectively lead and run an organization.

Flexible Work Arrangements

Employment terms that allow employees to vary their work hours, locations, or schedules to better accommodate personal needs while meeting business demands.

Long Work Hours

Extended periods spent working beyond the standard workday, which can impact health, well-being, and work-life balance.